Fire insurance: California and the insurers in conflict

IncendieIn the last two years, California fires have cost insurers 24 billion USD. In order to adjust their accounts, they have decided to increase policy rates and have sometimes refused to renew risky contracts. It is estimated that 800 000 fire policies are likely to be cancelled in high-risk areas.

No agreed solution has been found between insurers and the authorities. Consequently, the State of California is threatening to introduce a one-year moratorium for companies that refuse to renew the policies. For many years now, the entire region has been facing huge devastating fires.

Read also:| Wildfires in California: 2018 list and cost of forest fires

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